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Message: Warrants closed at $3.05...

Warrant price is 3.05$.  Exercise price is 2.05$.  So warrants have a $5.10 break even.

If you take the bid price ($2.69), you get a breakeven of $4.74.  

In other words, the option market is telling us where the share price will trade post the deal...$4.74 to $5.10.  That is a full $1.30 above where we are right now!

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